Added Financial Services Software Value Incentive OperationsFinancial Services Technology Private Equity Financial Services and Technology Investing.Syniverse Technologies Successfully Coupling Vision with Action.G. Edward Evans Syniverse Technologies In 2.Personal-Financial-Website2-e1478045012237.jpg' alt='Added Financial Services Software Value Proposition' title='Added Financial Services Software Value Proposition' />GTCR took the initiative to expand the firms financial technology investment beyond its historic focus in payments and banking.GTCR believed other high growth industry segments, such as the wireless industry, presented attractive investment opportunities.Through resourceful networking, GTCR was introduced to G.Edward Evans, an accomplished executive in the wireless industry.At the time, Mr. Evans was the President and COO of Dobson Communications, a large wireless company that had grown through a series of substantial acquisitions.Mr. Evans shared GTCRs enthusiasm for pursuing a financial technology investment in the wireless industry.DFMdSiOzYJQ/VLYffa2056I/AAAAAAAAANI/uzwyJFphneA/s1600/Picture1.jpg' alt='Added Financial Services Software Value Stream' title='Added Financial Services Software Value Stream' />He identified several companies that represented potential platforms for investment.The largest of these was Syniverse Technologies then known as TSI Telecommunication Services, which at the time was owned by GTE.Syniverse was the leading wireless financial technology business, providing a variety of services to wireless carriers that involved the translation, clearing, messaging and processing of data related to wireless voice and data transactions.GTCR approached GTE on a proprietary basis, but initially GTE was unwilling to sell.In the summer of 2.Mr. Evans became aware that Verizon, formerly GTE, was considering a sale of the company.With the help of Mr.Evans insight and diligence, GTCR saw potential for significant revenue growth and cost savings not previously identified by Verizon management.GTCR believed value could be created through the successful carve out of the business from Verizon, because Syniverse then would be able to work more closely with its customers who competed with Verizon.GTCR closed the acquisition of Syniverse in February 2.While near term growth was challenged in the aftermath of September 1.GTCR believed the investment could achieve substantial cash on cash returns from debt paydown as a result of the companys strong free cash flow.Furthermore, we believed Syniverse would participate in overall wireless voice services growth and in the proliferation of various data services then in their infancy.Following closing, GTCR and management worked successfully to carve out the company from Verizon, including transitioning operations out of Verizon data centers as well as transitioning certain Verizon back office support.New functions were created for the standalone company, and a new CFO was hired to oversee a more robust financial organization.At the same time, Mr.Evans and his team transformed business operations by eliminating costs, reorganizing operations and shifting the companys business development activities toward higher growth markets.By late 2. 00. 3, Syniverse was achieving increased growth from new and existing services.In late 2. 00. 4, Syniverse acquired EDS Inter Operator Services IOS.The acquisition strategically transformed Syniverse, in that the IOS business was Syniverses largest domestic competitor.The acquisition was also highly accretive, as the company was able to eliminate IOSs duplicative fixed cost infrastructure.In the aftermath of this successful acquisition, Syniverse completed an IPO in February 2.Subsequent to the IPO, Mr.Evans retired as CEO in December 2.Tony Holcombe assumed the CEO role.GTCR had recruited Mr.Holcombe to the board based on his successful experiences at National Processing, Ceridien and Web.MD. As a public company in which GTCR still had substantial ownership, Syniverse made another transformational acquisition.In April 2. 00. 7, the company announced the carve out acquisition of the European clearing operations of Billing Services Group BSG.BSG was a business Syniverse and GTCR had pursued in the past, when it had been a unit of EDS.We worked closely with Syniverse management on the diligence, negotiation and integration plans for the complicated acquisition.The transaction allowed Syniverse to leverage its scale over a broader geography and added important technology and services to the Syniverse product portfolio.Added Financial Services Software Value EngineeringThe acquisition also solidified Syniverses position competitively with a number of important global clients.The Dutch Value Added Tax VAT system.Who is subject to VAT When you start up a business in the Netherlands or if you intend to supply goods or services to Dutch customers you will be confronted with the Dutch system of Value Added Tax VAT in Dutch BTW.If you start up a business in the Netherlands you are required to register for VAT purposes.The same can apply if you do not have a Dutch presence but you are supplying goods or services to Dutch customers.This is for instance the standard rule if a foreign company provides E commerce services to the Dutch market.Special rules apply to holding companies.How does the Dutch VAT work The Dutch value added tax VAT or spelled in the Netherlands as BTW is a general consumption tax, which is supposed to be ultimately born by the consumer.The VAT is included in the retail price of basically all goods and services.Deadlines, penalties, what to file and many other things that you really need to know about Value Added Tax VAT in the Philippines.EMIS Manual General Information.The Department provides the EMIS Manual as a uniform and consistent source of reporting instructions for EMIS data in accordance with.Financial Services IT ExpertsLatest News Updates.Operating since 1987, JMR Software JMR is technology agnostic, with a strong working knowledge and expertise.VAT Consultant in Dubai, UAE The UAE Government has announced that it will introduce a Value Added Tax VAT system in the country, which will be effective on January.Added Financial Services Software Value Propositions' title='Added Financial Services Software Value Propositions' />In general, the VAT must be included in the invoice issued by the supplier of goods or services.As a matter of fact, businesses function as the withholding agent for the Dutch tax authorities.VAT incorporated in Dutch tax law is based upon EU Directives.This means that the principles and the structure of the tax are in general the same throughout the whole EU.Member states are however free to determine their domestic rates and turnover limits for registration.Though VAT is in essence a consumer tax, it is to be charged throughout every stage of the supply chain.This means that in general every invoice issued by your business irrespective at what step in the supply chain should include VAT and every invoice your business receives includes VAT as well.Dutch VAT rates. The Dutch standard VAT rate is 2. Mind Movies 2 0 Review 1000 Years on this page. The Dutch rate is average in comparison to other EU member states see under the rate in other EU member states.A 6 rate applies to for example food and beverage for human consumption except for alcoholics, water, pharmaceutical products and medical aids for persons and animals, books and magazines, passenger transport, hotel accommodations, entrance for sports events, theatres, cinemas, music performances, zoos, etc.A 0 rate applies to exports and intra community EU supplies see hereunder.VAT exemptions. A number of transactions mainly in the financial bankinginsurances and property sector but also various medical services and certain types of education are tax exempt.If you are active in such a line of business, in general you are not allowed to charge VAT on your invoices and in addition input VAT is not refundable.VAT may then become a cost for your business.It may be that your company performs both taxable and exempt transactions.In such case it is only allowed to deduct input VAT to the extent it relates to taxable transactions pro rata calculation.Therefore it is recommendable to get a clear picture in advance of how you will structure your business in order to be allowed to maximum VAT relief.Export and import.In brief the system to importsexports and intra community supplies works as follows.When you purchase goods from outside the EU, these goods are subject to VAT at the moment the goods are imported in the Netherlands.Supplies of goods to customers outside the EU are in general not subject to VAT.With regard to the import of certain goods import duties may become due.When you acquire goods from a supplier in another EU member state a so called intra community acquisition the goods will in general be subject to Dutch VAT VAT is shifted.For supply of goods to customers entrepreneurs in other EU member states so called intra community supply conditionally you are entitled to the 0 rate there where the recipient of the goods needs to self assess local VAT due.Various conditions should be met to apply this EU regime see also invoicing requirements below.Leasing. Like in most countries, leasing is a separate chapter within the Dutch VAT system.There is extensive policy about the qualification of leases and for certain specific situations special rules can apply.In essence, a lease can be treated as either a delivery of goods or a rendering of services.If according to certain criteria the lease qualifies as a finance lease, the lease will for Dutch VAT purposes be considered a delivery of goods.In other situations, the lease will be qualified as the providing of services.Various criteria must be met for the qualification of a lease as finance lease.The legal criteria are aimed to determine who is in fact the beneficial owner of the asset.E commerce activities.When you are active in the e commerce business, special VAT rules may be applicable.Under these rules due to the introductions of a EU Directive mid 2.EU supplying digital services to a non taxable person established or residing within the EU is in most cases obliged to charge VAT to that customer at the rate applicable in the country of the customer.For the purpose of the EU directive, digital services include the electronic transmission of software, games and information in a broad sense, as well as the subscription to radio and television channels, pay per view and other services supplied online via international databases and networks.Dutch invoicing requirements.Invoicing requirements are incorporated in Dutch tax law which are based upon a EU directive, which include the obligation to put your customers VAT number on the invoice and provide additional information identifying the VAT liability of certain suppliesservices.It is relevant for your business to comply with the invoicing requirements in order to prevent penalties.Furthermore, your customer, being the recipient of an incorrect invoice, may experience difficulties reclaiming VAT on the incorrect invoices it received.The specific information that you have to include in the invoice Date of issuance invoice.A sequential number Your VAT identification number The VAT identification number of your customer if required by the nature of the supplyYour full name and address as well as the full name and address of your customer.A description of the goods and services supplied second hand goods are to be identifiedThe quantity of the goods supplied or services rendered.The date the goods were supplied or the services were rendered.The net amount subject to VAT, the applicable VAT rate and the amount of VAT due.Identification of exempt supplies or supplies where the customer has to pay the VAT self assessment or verleggingsregeling Identification of tax representatives when used.It is allowed to issue electronic invoices, provided that the origin and integrity of the invoice is guaranteed.It is furthermore noted that records are to be kept of copies of invoices for a period of at least seven years.This obligation applies equally to paper and electronic invoices.VAT returns. VAT tax returns have to be filed with the tax authorities on a monthly or quarterly basis, depending on the size of your business.From the VAT you charged on your sales output VAT you should deduct the VAT that has been charged to you by other businesses input VAT.The balance is either to be paid to the tax authorities output VAT exceeds input VAT or to be refunded to you by the tax authorities input VAT exceeds output VAT.In essence, the VAT system should be tax neutral for businesses which are fully subject to the VAT.In particular for intra community delivery of goods extensive reporting requirements exist.VAT refund for foreign entrepreneurs.Foreign entrepreneurs who have no taxable presence for VAT purposes in the Netherlands are eligible for a refund of the Dutch VAT they have incurred.Within 6 months after the calendar in which the VAT has been incurred the foreign entrepreneur must file a request for refund.In this request the original invoices should be provided.Specific requirements apply to evidence that the foreign company is indeed a entrepreneur according to the Dutch definition.The request can be filed once a quarter, once a half year or once a year.Not all VAT is refundable.The normal limitations apply.For instance the VAT relating to meals and drinks is in general not refundable.What can we do for you Advice on VAT issues.Clarifying the VAT implications of cross border leases.Negotiation tax rulings.Representation in VAT audits.Dealing with registration and compliance matters If you are interested in our services, please feel free to contact us via e mail or to call us at our office in Rotterdam at the number 3.
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